U.S., China, Japan lead world in economic growth

The United States is leading the world in terms of economic growth, according to the Organization of Economic Cooperation and Development.

NEW YORK (CNNMoney) -- The U.S., Japanese and Chinese economies have regained their momentum and are leading the world in growth, according to the latest report Tuesday from a global monitoring group.

Meanwhile, Europe's economy is stagnant, while so-called developing nations show continued signs of growth, the Organization for Economic Cooperation and Development said in its index of leading indicators.

The U.S. economy has grown steadily over the five months ending in February, and Japan's economy has grown for four months, according to the most recent data available for the OECD's index of economic growth.

China's economy expanded for four months straight, according to the OECD, a sign that it has "regained momentum."

But the European economy has been weak, particularly in France, where the OECD is based, and Italy. These countries have experienced ongoing weakness in recent months.

The situation is slightly better for Germany and the United Kingdom. These countries experienced economic declines late last year, but have shown signs of improvement in 2012 and reached a "potential turning point," according to OECD.

Canada's economy has been flat, said the think tank, but Russia, India, and Brazil have all showed signs of growth.